DUBLIN, IRELAND—Dalata Hotel Group plc has entered into an agreement to acquire the freehold interest in the Clarion Hotel Cork, for a consideration of €35.1 million (roughly $39.9 million). It is expected that the transaction will complete this month.
Clarion Hotel Cork is located on Lapp’s Quay in Cork City center. The hotel contains 191 bedrooms, a bar and restaurant, a leisure center, swimming pool, high end spa and extensive conference and meeting facilities. The hotel will continue to be operated by Merzolt Limited t/a Choice Hotel Group under the terms of a 35-year leasehold agreement.
The consideration is payable in cash.